You've found your real estate agent but now need to be approved for a purchase price. Lets face it... not many of us are out there wheelin an dealin cash to pay full price on a property. You will need someone to lend a portion of the purchase price at closing. There are many mortgage companies out there so how do you decide?
Here's a few tips: Start local! Most listing agents prefer a local lender compared to someone national. This is because they know the local market and have a record of getting deals done. This will reassure a listing agent and seller that the deal will get closed in a timely manner. Too often deals fall out causing the sellers to restart a stressful process to sell their home.
Personal Experience: Local lenders will provide a more eloquent experience and get face to face with you to eliminate any anxiety with the process.
Shop Around: Certain lenders may have better rates than others which will affect the amount you will be paying back as a whole and monthly.
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